Sanofi Bangladesh renamed Synovia Pharma

Date: April 1, 2022

Source: The Business Standard


Beximco Pharmaceuticals Limited has changed the name of the recently acquired subsidiary, Sanofi Bangladesh Limited, to Synovia Pharma PLC, effective from Friday.

Sanofi Bangladesh Limited was part of the global biopharmaceutical company Sanofi SA before the acquisition of a majority stake in the company (54.6%) by Beximco Pharma on 1 October 2021.

The change of name has been made in compliance with the terms of the Share Purchase Agreement between the Company and the Sellers, said Beximco in a press release today.

The name "Synovia" is derived from the French word Synergie, meaning "collaboration" and the Latin word Via, meaning "path".

Synovia Pharma will continue to manufacture, market and import Sanofi SA products, ensuring continued supply for patients in Bangladesh across therapeutic areas such as cardiology, diabetes, oncology, dermatology and CNS, the press statement added.

Managing Director of Beximco Pharma Nazmul Hassan said, "Following the acquisition of a majority stake in Sanofi Bangladesh, we have been focused on integrating its people and products. By renaming the business Synovia Pharma, we mark the next exciting step in this transition. Under this new name, we are committed to maintaining Synovia Pharma's established reputation for high-quality products and to delivering affordable treatments and breakthrough therapies to the growing market in Bangladesh.

"We are also excited to maximize the potential of Beximco Pharma's strengthened position in key therapeutic areas to drive long-term growth," he added.